A total of 84,329 sq ft of office space was transacted across 21 deals in Leeds city centre during the second quarter of 2025 (Q2), according to the latest data from the Leeds Office Agents Forum (LOAF).
The largest city centre letting of the quarter was to JN Bentley, who agreed terms on 17,124 sq ft at 1 Whitehall Riverside.
At the halfway point of the year, total city centre take-up reached 325,611 sq ft – broadly in line with the same period last year (349,332 sq ft) and consistent with the long-term average.
Two key mid-sized Q2 lettings to HGF and PKF – both securing space at headline rents of £40 per sq ft – highlight the sustained demand for quality office space.
Nick Salkeld, director at Fox Lloyd Jones, remains optimistic: “Occupier demand for amenity-rich, sustainable workspace continues to dominate the market. With the current supply rapidly diminishing and a restricted pipeline, we continue to see rents pushing comfortably past £40 per sq ft for standing stock and around £50 per sq ft quoted on new builds. There are a handful of key pre-let requirements for 2027–29 that we anticipate will unlock new schemes across the city.”
In the out-of-town market, activity was more subdued, with 41,642 sq ft let across 20 deals. The largest of these was to Harron Homes, which took 10,339 sq ft at Trueman House, Capitol Park.
LOAF points to notable lettings across the wider Yorkshire region, reflecting the breadth of ongoing occupier demand. This includes two deals in Wakefield: a 28,460 sq ft letting to NHS Supply Chain and a 16,623 sq ft letting to Dotty Bridal, both at Tileyard North.
Toby Nield, director from Savills, added: “Nearly a third of all transactions this quarter were for space over 5,000 sq ft, compared to the long-term average of around 4,000 sq ft. This indicates growing confidence, with businesses expanding and encouraging a return to five-day office working.
“We are aware of a number of significant transactions under offer, at strong rents; therefore, we are optimistic of a strong take-up performance in the second half of the year.”
LOAF members include Avison Young, BNP Paribas Real Estate, Carter Towler, Carter Jonas, CBRE, Colliers, Cushman & Wakefield, Fox Lloyd Jones, JLL, Knight Frank, Lambert Smith Hampton, Sanderson Weatherall, Savills and WSB.
